Jeff Jensen's Blog

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Mortgage and Lending - The Federal Savings Bank/Lending in 50 states - NMLS # 109616

ARCHIVED BLOG POSTS

2010 

Next week could prove to be interesting in the economic marktes.  First of the Treasury will be acutioning off a whopping $126 billion in new fixed income offerings.  If these auctions go poorly, there would be an adverse effect on interest rates.  Importanat economic reports for the week will be...
02/19/2010
Mortgage backed securities (MBS) closed up 3 basis points today at 100.22 just 34 basis points below resistancce offered by the 200 day moving average at 100.56.  MBS bonds came out the gate in negative territory and remained there most of the day despite great inflation readings from the Consume...
02/19/2010
In reaction to a Producer Price Index figure of 1.4%, which was higher that the .9% expected, the Fed increased its discount rate, the rate at which member banks may borrow from the Fed, from .50% to .75% today.  Raising interest rates traditionally has the effect of slowing the economy as a coun...
02/18/2010
Mortgage backed securities (MBS) closed down 47 basis points (bps) today at 100.19 having fallen below the support of all the moving averages and coming to rest 37 bps below the 200 day moving average.  Two killer items doomed today's bond trading.  Wholesale inflation appeared to be on the rise ...
02/18/2010
How much are jumbo lenders willing to lend?  In today's market qualifying borrowers can borrow up to 80% of the purchase price on loans up to $1,500,000.  The allowable percentages start to slide from there with some banks offering up to 75% financing up to $2.0 million, 70% up to $2.5 million an...
02/17/2010
Mortgage backed securrities (MBS) closed down 44 basis points today at 100.66 resting just above the 200 day moving average having plummeted through support at the 100, 25 and 50 day moving averages during the day.  The biggest market mover was some Fed members concern about all the debt we are a...
02/17/2010
FHA underwriting guidelines are surprisingly lenient.  For normal Fannie Mae loans, most lenders require a borrower to have at least three trade lines which have been open for at least two years.  I had a borrower with only one trade line which was opened just 9 months ago with only a 630 credit ...
02/16/2010
Mortgage backed securities (MBS) closed up 19 basis points today at 101.09 six basis points above new support at the 100 day moving average.  With no treasury auctions scheduled for this week, we could be able to sustain this level at least until Thursday afternoon.  At that point the Treasury wi...
02/16/2010
As a mortgage broker and banker, I hear a lot about the modification program.  Many people say that a bank won't even talk to you unless you are al least two payments back.  A former client called me today wanting to lower her rate.  She had been told the same thing and was urged by her peers to ...
02/15/2010
While many had the day off languishing in their pools or reading a good book the world of real estate agents worked on.  One of the top agents had a pre-planned four hour tour of the areas finest homes.  A group of other veterans attended their second Buffini class.  No matter how long one has be...
02/15/2010
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Jeff Jensen

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